Yacht Insurance

March 13, 2012

The turnout in Auckland for the Volvo Ocean Race was amazing – thousands of people stood in the rain or waited up half the night to watch the yachts come in. This is just one example of the passion New Zealanders have for the sea.

However, it’s entirely legal for someone in New Zealand to operate a yacht or powerboat without any type of marine license whatsoever. New Zealand is one of the few countries left in the world where this is the case. This has some serious consequences on the New Zealand boating scene. Unlicensed operators means untrained operators, and with New Zealand waters being some of the most unpredictable in the world, this raises serious questions about safety.

Safety aside, as a yacht owner, the best advice you could follow to protect your investment is to obtain yacht insurance for not only accidents but also theft. Given the fact that 80% of New Zealand’s population lives within 20 kilometers of the sea, it’s a good idea to get full accident and theft insurance.